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State of Markets - SA February 2013

By Staff Reporter

Essential information, plus expert insight on what is shaping the national property market...

SOUTH AUSTRALIA

Fast figures

  • 1,596,572: Total population (Source: ABS)
  • 27.7%: Households with less than $600 per week income
  • $220: Median rent

Plan to boost economy and population
The Property Council of Australia has presented the South Australian state government with a series of policies aimed at boosting the state’s growth rate, to drive economic prosperity.

An overseas recruitment mission is a key part of the ambitious plan, which aims to revive South Australia's flagging population.

Nathan Paine, Property Council South Australia executive director, says South Australia’s low population growth rate is slowing efforts to rebuild the state’s economy.

"At sub one per cent population growth, our growth rate is the lowest on the Australian mainland,” Mr Paine said. “This not only contributes to economic stagnation, but also allows a sense of rot to creep in; it's preventing the vibrancy we all want.”

Council initiative welcomed
An initiative by Adelaide City Council has been welcomed by the Property Council of Australia as a step towards reinforcing the vibrancy and amenity of the city's CBD.

The Smart Move Transport and Movement Strategy 2012-22 was praised by Property Council of Australia (SA division) executive director, Nathan Paine, who said the Council had used the extensive consultation process behind the strategy to great effect.

"The Property Council has long maintained that the city needs a broad range of strategies to improve its walkability, accessibility and overall liveability," Mr Paine said.

The Smart Move Strategy goes some way toward these goals and the Property Council has offered to work with the Council to complete the journey.

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Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
FAIRLIGHT 46.02%
2.
CASUARINA 44.36%
3.
THE ENTRANCE NORTH 41.09%
4.
ULTIMO 40.67%
5.
LAVENDER BAY 40.2%